Nabors Industries reports Q4 EPS ($6.67) vs. ($2.70) last year

Reports Q4 revenue $730M, consensus $739.35M. CEO Anthony Petrello commented, “We are looking forward to adding Parker to the Nabors portfolio…We are confident that this acquisition will advance our strategic objectives while creating value for our stakeholders. The market environment in Q4 provided us with some challenges in the U.S., as operators continued to modulate their activity levels in oil basins, mainly driven by recent mergers…For 2025, we are planning for stable market activity through the early part of the year. Given this activity level, we are responding with actions to improve efficiency and align our cost structure. Our international businesses continued to expand in multiple markets, including Saudi Arabia and Argentina…In 2025, we have startups planned in the Kingdom, Argentina, Colombia, and Kuwait. We project these deployments will drive this segment’s margins higher through the year. SANAD, our 50/50 joint venture with Saudi Aramco, is progressively adding 50 rigs over approximately 10 years….In 2025, SANAD’s working newbuild fleet should approximately double its contribution in adjusted EBITDA over 2024…We believe that in the next several years our joint venture will start generating cash flow in excess of the annual investment required for the newbuild rigs, meaningfully increasing value for Nabors as a whole.”